Quote:
Originally Posted by Senator Clay Davis
They do? Wow that's amazing to know you can project 10 years into the future of government finance. Care to tell me what all the oil companies will be trading at in 10 years so I can plan my investing accordingly? People know the present, period. They see taxes going up, they see the NDP being the NDP, the see multiple recent Olympic disasters. Right now this would easily fail as a public measure.
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I'm not going to predict the future here but it's fairly safe to say that the TSX energy index will be trading higher than it is today in the medium term future. It's foolish to assume the status quo is the long term norm. Worldwide demand for petroleum is growing and will continue to grow. The transition away from coal generation will result in more demand for natural gas. It's almost certain that there will not be another right wing vote split in 2019 and the damage the NDP is doing to the province will thankfully be limited to one term.
Long term investors haven't lost confidence in the Calgary and Alberta marketplace and neither have most people in the city. Don't assume that others share your pessimistic outlook.